Last Year, RJT Enterprises Had Total Inventories (Raw Materials, Work-

question 151

Essay

Last year, RJT Enterprises had total inventories (raw materials, work- in- process, and finished goods) of $7.5 million. During this same year the cost of goods sold was $30 million. The company operates 50 weeks per year.
a. What is their total inventory (measured as weeks of supply)?
b. What is their inventory turnover?

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Definitions:

Apical Meristems

Regions of rapidly dividing cells at the tips of roots and shoots, where most plant growth occurs.

Vascular Cambium

A layer of growth tissue in plants that produces new phloem and xylem cells, contributing to stem and root thickness.

Sclerenchyma Tissue

A type of plant tissue composed of thick-walled cells that provide structural support, commonly found in regions of the plant that are no longer elongating.

Secondary Growth

In plants, a growth pattern resulting in the thickening of stems and roots, primarily through the activity of the vascular cambium.